Laserfiche WebLink
Mr. Dennis I oehntopp <br />February 28, 2003 <br />Page 2 <br />Estimated 2003 Required Contribution <br />We have calculated an estimate of the annual required contribution for 2003, The 2003 <br />estimated contribution (with actual 2002 figures for comparison) is as follows <br />Calendar Year <br />Normal Cast <br />Unfanded Liability Amortization <br />Plan Amendment Amortization <br />Interest <br />Expenses with interest <br />Annual Required Contributions <br />Actual 2002 <br />$27 benefit legal <br />$137,360 <br />75,420 <br />81,499 <br />14,x'14 <br />. 1348 <br />330,341 <br />Estimated 2003 <br />27 benefit level <br />133,068 <br />1 95,55 5 <br />81,499 <br />20,506 <br />31 <br />462,392 <br />The above contributions are calculated as of the end of the year. The increase in the <br />annual required contribution from 2002 to 2003 is duo to the large asset loss during 2002. <br />Plan assets earrned an approximate rate of return of (9.9 %) wring 2002 versus the <br />assumed rate of 5.0 %. <br />Data and Assumptions <br />The January 1, 2003 asset value was $5,127,888 (as reported by you). The member <br />population was projected from .January 1, 2002 with an adjustment for the number of <br />active participants reported as of December 31, 2002. We assumed that there would be <br />no significant change in member demographics during 2002. <br />All other assumptions and methods are the same as outlined in our January 1., 2002 <br />valuation report. <br />If you have any questions, please call me at (612) 397-4027. <br />inoerelya <br />F. Jay Ling <br />Directing Manager <br />cc Matt Mammenga <br />171281 <br />